Legalization of Betting in Sports

How well do you know your sports? Is the knowledge enough to help you place bets on the outcome and win some real money? Do you know who invented this form of gambling?

Most countries took their time to allow online casino gambling – and it’s still illegal in some – but they did not hesitate to legalize sports betting. This $150 billion yearly industry keeps growing, and today we have dozens of sites offering these betting services. Because most of the activity is based on actual outcomes from day-to-day sports, those who participate feel like they have more control than they do on casino games whose results are determined by an algorithm. To reap the rewards in this form of betting, you want to know your sports, the teams, and the odds of them winning. There is never a dull moment when you bet on sports.

A Short History of Sports Gambling

Greece is known as the pioneer of many things, and sports betting is only one of them. While the earliest records show it to have started here, it was ancient Rome that first legalized it over 2000 years ago. That was way before the race for online casinos with fast payouts started, or online gambling was even a thought. The Romans gambled on gladiator games before they were banned and continued even after they were no longer played. The spirit of playing for real money had started and was not about to be stopped.

The systems put in place where sports help make money online were quite simple. Players just needed to bet on the outcome of a game where bookies would calculate the odds. Religious groups fought the actions so much that eventually, gambling had to go underground. This didn’t stop its spread into other parts, and as soon as it got to England, it was transported to the rest of the world through trade. Most of today’s betting skills borrow heavily from what was started many years ago.

Current Situation

Vegas took up betting at casinos, giving the illusion that this activity was legal in the country. While reasonable amounts of money were being collected at casinos, even larger chunks were made by illegal bookers who still operate to date. Because several countries have failed to acknowledge this form of gambling, the bookies make a kill while law enforcement officers turn a blind eye.

And then came online betting that discombobulated the industry as we knew it. Now, all you need is an internet connection and a mobile device to place a bet at an online site to make real money. You can bet on almost every conceivable sport and even eSports. Think Football, Basketball, Tennis, Horse racing, Athletics, Rugby, Cricket, and many more.

Countries that have Legalized Sports Betting

Several countries have legalized betting on sports to capitalize on its gains. The restrictions on this form are not as strict as those you find when gambling on slots or card games at online casinos, probably because the activities in the field purely determine the outcome. It is a game of chance because you are betting on an outcome you are unsure of unless the game is staged

What is the future of sports betting? Well, like the spin samurai Australia, the future is promising. More countries find it more appealing than regular gambling, so they are less strict on it, and over time, they could move towards regulation. Those who have legalized it are reaping the benefits from all the earnings collected towards their GDPs, so the data already available could convince more countries to legalize this form of betting.

Here are some of the countries that have legalized it;

  • Argentina
  • Australia
  • Brazil
  • Canada
  • China
  • Colombia
  • Costa Rica
  • Ghana
  • India
  • Kenya
  • Mexico
  • New Zealand
  • Nigeria
  • Peru
  • Philippines
  • Russia
  • South Africa
  • United Kingdo

 

 

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